Doji Candlestick Menaces Visa
Visa has trended steadily lower for the past year, and now some patterns may suggest that another peak has formed.
The first item on today’s chart is the attempted rally on July 27 following better-than-expected earnings. It looked like V could stay green for about half the day, but then it knifed down on heavy volume. The resulting higher high and lower low produced not only a large outside day but also a doji candlestick. That’s a potential bearish reversal pattern. (In addition, it left a hanging man candlestick on the weekly chart.)
Next, the potentially bearish price action occurred near a declining trendline that began in February.
Third, MACD is nearing a potential bearish crossover.
Finally, the 200-day simple moving average (SMA) has been falling. Also notice how V has struggled to remain above it since gapping downward in late October. Has the longer-term trend turned lower?
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Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The first item on today’s chart is the attempted rally on July 27 following better-than-expected earnings. It looked like V could stay green for about half the day, but then it knifed down on heavy volume. The resulting higher high and lower low produced not only a large outside day but also a doji candlestick. That’s a potential bearish reversal pattern. (In addition, it left a hanging man candlestick on the weekly chart.)
Next, the potentially bearish price action occurred near a declining trendline that began in February.
Third, MACD is nearing a potential bearish crossover.
Finally, the 200-day simple moving average (SMA) has been falling. Also notice how V has struggled to remain above it since gapping downward in late October. Has the longer-term trend turned lower?
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing in cryptocurrencies involves significant risks. Please click here for TradeStation Crypto’s risk disclosures on investing and trading in cryptocurrencies.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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